San Jose, CA — April 23, 2025 — BILL (NYSE: BILL), a leading financial operations platform for small and midsize businesses (SMBs), has unveiled a suite of new procurement capabilities and innovations designed to empower businesses and accountants in managing their cash flow more effectively. This expansion marks BILL's commitment to addressing the critical challenges SMBs face in cash flow management, positioning the company as a category leader in financial operations.

1. Addressing Cash Flow Challenges

In an environment where cash flow control stands as a top priority for 60% of financial leaders surveyed, BILL recognizes the pressing need for enhanced visibility and strategic decision-making. Despite the importance of managing cash flow, almost two-thirds of finance leaders express dissatisfaction with their ability to improve cash flow forecasting using traditional spreadsheets, while half report a complete lack of automation in their procurement processes.

René Lacerte, CEO and Founder of BILL, emphasized the company’s mission: “In an uncertain environment, control and visibility of cash flow is not only key to efficiency – it’s one of the most powerful levers a business has to be more resilient.” He noted that legacy systems and disparate tools are hindering businesses, costing them valuable time and resources. With the new innovations, BILL is set to eliminate these inefficiencies and empower businesses in their financial operations.

2. Introducing BILL Procurement

The new procurement capabilities are designed to streamline the procure-to-pay process, allowing businesses to manage purchase orders with greater agility and precision. Key features of BILL Procurement include:

AI-Driven Efficiency: BILL harnesses artificial intelligence to simplify workflows, reducing manual tasks and enhancing operational efficiency.

Automated Processes: Advanced approval routing and automated invoice matching are included to minimize risks associated with fraud and payment errors.

These features collectively empower businesses to spend smarter and faster, reinforcing BILL’s role as a trusted partner in financial operations.

3. Innovations in Payments and Customization

BILL is enhancing its platform further with three significant innovations that facilitate payments and integration at scale:

1. BILL Multi-Entity

This feature allows businesses and accounting firms to manage payments across multiple organizations from a single, centralized platform, simplifying complex financial operations as companies scale. Key benefits include:

Centralized Management: Users can easily add new entities and oversee payments, expenses, and approvals across various organizations.

Enhanced Visibility: Centralized financial oversight aids in streamlined cash flow management and payment processing.

2. BILL API Platform

The BILL API Platform offers businesses the flexibility to customize their financial workflows, enabling them to integrate BILL’s capabilities into existing systems. This innovation allows organizations to:

Streamline Workflows: Automate custom financial processes to enhance efficiency and ensure compliance.

Reduce Manual Entry: Save time and resources by minimizing repetitive tasks.

3. Bulk Bill Payments

As businesses grow, managing an increasing volume of payables can become cumbersome. BILL’s enhancements allow teams to:

Process Thousands of Bills: Simplifying the payment of numerous bills simultaneously, which boosts efficiency.

Improve Error Handling: Enhanced approval workflows ensure smoother operations and reduce manual workload.

4. Positive Reception from SMBs and Accountants

The response to BILL’s new innovations has been overwhelmingly positive. Francisco Santa, Director of Finance at Distinctive Schools, remarked, “We’ve broken free from spreadsheet purgatory... BILL Procurement gives us real-time control over spending and cash flow, which is critical for our continued growth.”

Michelle Hodges, CPA and Principal at Rehmann, highlighted the evolving role of accounting firms, stating, “BILL helps us deliver on that promise by giving us real-time visibility into spend and future cash flow, allowing us to move our clients beyond spreadsheets.”

5. Conclusion

BILL’s latest innovations not only reinforce its leadership position in the financial operations space but also provide SMBs with the tools they need to thrive in a challenging economic landscape. With a commitment to automating finance and enhancing cash flow management, BILL is poised to support businesses in achieving sustainable growth and success.

For additional insights on BILL’s new capabilities, visit their blog for more information.

Original press release